Handing down family business is a dream of many owners who want to see their companies thrive in the hands of succeeding generations. However, when you see stories about family firms in the financial press about succession planning, they almost always refer to Ownership Succession. Sadly, far less attention is paid to an extremely important component of succession planning – Management Succession.
Listen to Wayne in our blog this week as he talks about the importance of management succession planning for long term success of your family businesses.
We look forward to your thoughts and comments.
Jim says:
Spot on Wayne. Your attire is perfectly suited to your personality! Yes…that’s a compliment.
Indeed…let’s figure out who is going to be in which seat X years down the road and who needs to learn what by when to help make the transition smoother? And if not someone from the next generation, let’s plan to groom or hire someone to fill the various seats.
Good stuff as always.
Wayne Rivers says:
Thanks, Jim!
Robert Scull says:
senior management here.
This was a very good presentation by you . Your logic about next manager(s) is spot on. Someone has to be the one that takes care of all the problems that arise. This is the stuff that is not always the fun part! My son is involved in the AGC Pro group, it has really opened his eyes to how and what it takes to go to the next level.
Your videos are very helpful!
Cheers!
Wayne Rivers says:
Cool, Bob! You coming to my presentation in SD April 11-12?